Shares in iPhone chip maker Dialog Semiconductor fell 4% after it revealed it was mulling a reverse takeover of a US rival
Shares in iPhone chip maker Dialog Semiconductor fell 4per cent after it revealed it was mulling an ambitious reverse takeover of a US rival.
The Reading-based firm said it was considering a deal with California’s Synaptics.
Analysts said the takeover was a defensive move to allow Dialog to reduce its dependence on Apple, which has been moving towards making more iPhone components in-house.
Dialog recently admitted Apple was cutting its chip order by almost a third.
The price slide comes as Dialog’s shares, which are listed in Frankfurt, have fallen more than 70per cent since March 2017.